23APR2019 - NEWS - Panamaxes business to be hit by Chinese government decision to restrict coal imports

Due to Chinese goverment restrictions on coal imports, the demand for Panamaxes bulk carrier will decrease significantly.The Chinese government plans to decline the country’s coal imports in 2019. Indonesia, Australia, Russia and Mongolia are the major coal suppliers, which together accounted for more than 95% of imports in 2018. Mongolian trade is over land, but the dip in trade from other key locations will be detrimental for Panamaxes. Assuming no change in the sourcing pie in 2019, annual seaborne trade could decline by 8.6 million tonnes rendering more than 10 Panamaxes unemployed.

Published by Editor - www.Livebunkers.com at 23-Apr-2019 04:20:55 [UTC] , contact editor at editor@livebunkers.com